Federated Hermes Inc. Purchases New Shares in Fastly, Inc. (NYSE:FSLY)

Federated Hermes Inc. purchased a new position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 209,650 shares of the company's stock, valued at approximately $1,979,000. Federated Hermes Inc. owned about 0.15% of Fastly as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in shares of Fastly by 402.8% in the fourth quarter. Alliancebernstein L.P. now owns 844,349 shares of the company's stock valued at $7,971,000 after purchasing an additional 676,408 shares during the period. Raymond James Financial Inc. purchased a new position in Fastly in the 4th quarter valued at $3,717,000. First Eagle Investment Management LLC acquired a new position in Fastly in the 4th quarter valued at $3,192,000. SG Americas Securities LLC increased its stake in Fastly by 56.6% in the 4th quarter. SG Americas Securities LLC now owns 346,632 shares of the company's stock valued at $3,272,000 after buying an additional 125,275 shares during the period. Finally, Vanguard Group Inc. raised its position in Fastly by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 15,289,861 shares of the company's stock worth $144,336,000 after buying an additional 103,440 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FSLY shares. Royal Bank of Canada cut their price target on Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Piper Sandler lowered their price target on shares of Fastly from $9.00 to $6.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Oppenheimer initiated coverage on shares of Fastly in a research note on Thursday, March 20th. They set a "market perform" rating on the stock. Morgan Stanley lowered their target price on shares of Fastly from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Citigroup raised their price objective on Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $8.25.

Insider Activity at Fastly

In other Fastly news, CEO Todd Nightingale sold 8,595 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $6.87, for a total value of $59,047.65. Following the transaction, the chief executive officer now directly owns 1,544,706 shares of the company's stock, valued at $10,612,130.22. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ronald W. Kisling sold 5,342 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total value of $28,098.92. Following the completion of the sale, the chief financial officer now directly owns 665,693 shares of the company's stock, valued at $3,501,545.18. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,454 shares of company stock worth $1,327,218. Company insiders own 6.70% of the company's stock.

Fastly Trading Up 1.0 %

Shares of FSLY stock traded up $0.06 on Friday, reaching $5.38. 1,840,580 shares of the stock were exchanged, compared to its average volume of 3,333,856. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $13.36. The stock has a market cap of $764.86 million, a P/E ratio of -4.71 and a beta of 1.43. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $6.71 and a two-hundred day moving average of $8.07.

Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. On average, research analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

About Fastly

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.